Today The Zacks Investment Research Upgrades International Business Machines Corporation (IBM) to Hold

Today The Zacks Investment Research Upgrades International Business Machines Corporation (IBM) to Hold

International Business Machines Corporation (NYSE:IBM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “IBM's fourth-quarter results showed that the new businesses (or Strategic Imperatives) are not sufficient enough to offset weakness in the traditional busineses. Moreover, sluggish IT spending particularly on on-premise and data center hardware and foreign exchange volatility remain concerns. Additionally, intensifying competition is a headwind. Shares have signficantly underperformed the broader market in the last one-year. Nevertheless, IBM's strategic growth initiatives, including its cognitive solutions, cloud computing, mobile and social business are expected to drive growth. In addition, tuck-in acquisitions will lead to incremental revenues, strengthening its technology leadership and resulting in a more favorable mix of business. The acquisitions have also increased its scale of operations globally.”

IBM has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of International Business Machines Corporation to $9.00 in a research report on Thursday, January 12th. Vetr cut shares of International Business Machines Corporation from a “buy” rating to a “hold” rating and set a $157.99 price objective for the company. in a report on Thursday, October 27th. Credit Suisse Group restated an “underperform” rating and issued a $110.00 price objective on shares of International Business Machines Corporation in a report on Wednesday, October 12th. Stifel Nicolaus lifted their price objective on shares of International Business Machines Corporation from $165.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, January 12th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $170.00 price objective (up previously from $165.00) on shares of International Business Machines Corporation in a report on Friday, January 13th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $162.98.

Shares of International Business Machines Corporation (NYSE:IBM) opened at 175.90 on Monday. International Business Machines Corporation has a 12 month low of $116.90 and a 12 month high of $176.00. The stock has a market cap of $166.86 billion, a PE ratio of 14.21 and a beta of 0.97. The stock has a 50 day moving average of $167.43 and a 200 day moving average of $160.32.

International Business Machines Corporation (NYSE:IBM) last announced its quarterly earnings results on Thursday, January 19th. The technology company reported $5.01 earnings per share for the quarter, beating analysts’ consensus estimates of $4.88 by $0.13. International Business Machines Corporation had a net margin of 14.85% and a return on equity of 78.32%. The business earned $21.77 billion during the quarter, compared to analysts’ expectations of $21.69 billion. During the same period last year, the business earned $4.84 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that International Business Machines Corporation will post $13.79 earnings per share for the current fiscal year.

In other International Business Machines Corporation news, insider Jon C. Iwata sold 19,866 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $158.63, for a total value of $3,151,343.58. Following the completion of the sale, the insider now owns 54,719 shares of the company’s stock, valued at $8,680,074.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kralingen Bridget A. Van sold 2,107 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $162.44, for a total transaction of $342,261.08. Following the completion of the sale, the insider now directly owns 4,147 shares of the company’s stock, valued at approximately $673,638.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,632 shares of company stock valued at $4,205,870. Corporate insiders own 0.08% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. REDW Stanley Financial Advisors LLC purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $450,000. Cascade Investment Advisors Inc. purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $1,943,000. Headinvest LLC purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $466,000. Massey Quick & Co. LLC purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $108,000. Finally, Wrapmanager Inc. purchased a new stake in shares of International Business Machines Corporation during the fourth quarter valued at about $230,000. 58.59% of the stock is owned by institutional investors.

International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

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